Spotify Technology revenue and financials
$486.29Change from previous close: +0.67%Absolute change: +$3.24
In the fiscal year ended December 2025, Spotify Technology reported revenue of €17.19B (+9.65% year over year). Net income was €2.21B, a net margin of 12.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +9.65%
- 2025 vs 2024
- Net income growth
- +94.38%
- 2025 vs 2024
- Net margin
- 12.9%
- 2024: 7.3%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2,933 | 2,301 | 680 | 46.0 | 361 | 259 | 573 | 344 | 179 | 101 |
| Depreciation and amortization | 98.0 | 113 | 158 | 171 | 127 | — | — | — | — | — |
| Capital expenditure | -61.0 | -17.0 | -6.0 | -25.0 | -85.0 | -78.0 | -135 | -125 | -36.0 | -27.0 |
| Investing cash flow | -1,785 | -1,486 | -217 | -423 | -187 | — | — | — | — | — |
| Financing cash flow | -381 | 729 | 234 | -40.0 | 1,250 | — | — | — | — | — |
| Share repurchases | -439 | 0.0 | 0.0 | -2.0 | -89.0 | 0.0 | -438 | -72.0 | 0.0 | 0.0 |
| Debt issued | 0.0 | 0.0 | 2.0 | 2.0 | — | — | — | — | — | — |
| Debt repaid | -73.0 | -69.0 | -66.0 | -43.0 | — | — | — | — | — | — |
| Effect of exchange rates | -290 | 123 | -66.0 | 156 | 169 | — | — | — | — | — |
| Net change in cash | 477 | 1,667 | 631 | -261 | 1,593 | — | — | — | — | — |
| Free cash flow | 2,872 | 2,284 | 674 | 21.0 | 276 | — | — | — | — | — |
| Levered free cash flow | 675 | 1,221 | 607 | 303 | 568 | — | — | — | — | — |